The Libre Pro, which is already available from third-party vendors like Amazon.com and Sears, will be sold for only $119.99. Readers will start shipping on July 2 and will be available in stores in August.

While the Libre Pro isn't the flashiest e-reader on the market — it uses an LCD screen rather than eInk, for instance — it is one of the cheapest. It also builds into Borders's overall strategy of offering a variety of different e-reader options to customers at all price points. Borders says it plans on offering up to 10 different devices by the end of the year.

In the age of the iPad, it is going to be increasingly difficult for manufacturers to sell e-readers in the $300 range; however, barebones e-readers in the $100 range is a completely different story, because they can be marketed as a frills-free way to read e-books on the cheap. If Borders can get that price down to $99, we think they'll have a winner on their hands.

As for tech specs, the device has a 5-inch diagonal monochrome LCD screen — no backlighting — and a rechargeable built-in Lithium Ion battery. The battery is reportedly good for 24 hours of continuous use and two weeks of standby.

The device has 256MB of built-in memory and an SD slot that can take up to 32GB cards. It can read Adobe ePub and PDF documents and it can play back MP3s. It lacks a web browser, Internet connectivity and color, but for basic (and inexpensive) e-reading, this device might just get the job done.

Mashable
is a global, multi-platform media and entertainment company. Powered by its own proprietary technology, Mashable is the go-to source for tech, digital culture and entertainment content for its dedicated and influential audience around the globe.